News & Analysis as of

Consumer Bankruptcy Chapter 13

Consumer bankruptcy is a process to reduce or eliminate personal as opposed to business debts. Consumer bankruptcies can be filed under either Chapter 7 or Chapter 13 of the bankruptcy code.  Debtors are... more +
Consumer bankruptcy is a process to reduce or eliminate personal as opposed to business debts. Consumer bankruptcies can be filed under either Chapter 7 or Chapter 13 of the bankruptcy code.  Debtors are eligible for Chapter 7 or Chapter 13 depending on the nature of their debts and assets. less -

New Bankruptcy Rules that Creditors Need to Know and Follow

by Ward and Smith, P.A. on

On December 1, 2017, several changes to the Federal Rules of Bankruptcy Procedure took effect. The changes involve consumer cases under Chapter 13 and affect creditors with secured claims, unsecured claims, and judgment liens...more

Bankruptcy Rule Amendments Now in Effect

by Barley Snyder on

Bankruptcy professionals, be ready. There are now some major changes in the bankruptcy filing process, and noncompliance could cause you to lose in court....more

Amendments to the Federal Rules of Bankruptcy Procedure Effective on December 1, 2017

by Reed Smith on

Amendments to the Federal Rules of Bankruptcy Procedure become effective December 1, 2017. We highlight those amendments below, separating the discussion into amendments that impact both business and consumer bankruptcy...more

A Decision of Interest: U.S. Court of Appeals for the Second Circuit Opines on the Proper Interest Rate Under the Cramdown...

by Shearman & Sterling LLP on

On October 20, 2017, the United States Court of Appeals for the Second Circuit issued an important decision regarding the manner in which interest must be calculated to satisfy the cramdown requirements in a chapter 11 case....more

Second Circuit Requires Consideration of Efficient Market for Chapter 11 Cramdown Interest Rates

by Latham & Watkins LLP on

Ruling overturns New York decision rejecting market-based approach. Key Points: - Court of Appeals for the Second Circuit requires courts to consider efficient market interest rate, if available, for purposes of chapter...more

Cramdown Interest Rate Best Set Based on Market Rates

by Robinson & Cole LLP on

The Bankruptcy Code permits cramdown of a secured creditor but requires that the secured creditor receive deferred cash payments at least equal to the value of its collateral. This means that installment payments to the...more

Dear Debtor, Three Strikes And You’re Outta Here!

by Fox Rothschild LLP on

When an individual files for bankruptcy protection, he/she is entitled to certain wonderful benefits. For example, a Chapter 13 bankruptcy filing will stop (at least temporarily) a home foreclosure or car repossession and...more

Coming Soon: Bankruptcy Proofs of Claim Must be Filed Sooner and by More Claimants

by Snell & Wilmer on

Bankruptcy Rule 3002 is getting an update, which goes into effect on December 1, 2017. Creditors in a Chapter 7 (liquidation), Chapter 12 (family farmer), and Chapter 13 (individual reorganization) bankruptcy need to take...more

From the Top In Brief - July/August 2017

by Jones Day on

In Midland Funding, LLC v. Johnson, No. 16-348, 2017 BL 161314 (U.S. May 15, 2017), the U.S. Supreme Court ruled that a credit collection agency does not violate the Fair Debt Collection Practices Act ("FDCPA") when it files...more

Upcoming Amendments to Bankruptcy Rule 3002 to Impact Bankruptcy Filing Practices for Mortgagees

by K&L Gates LLP on

Effective December 1, 2017, certain amendments to the Federal Rules of Bankruptcy Procedure (“the Bankruptcy Rules”) recently adopted by the Supreme Court will impact the allowance of secured claims in bankruptcy. Below, we...more

The Effects of a Creditor’s Non-Participation in Bankruptcy Proceedings

Although not required for the res judicata analysis, the court also found that Montanaro received constitutionally sufficient notice of the debtor’s bankruptcy, the plan, and confirmation order to be bound by the plan’s...more

Supreme Court Issues Two Rulings Interpreting FDCPA

by Tucker Arensberg, P.C. on

The Supreme Court recently issued two rulings interpreting various sections of the Fair Debt Collection Practices Act (FDCPA) in favor of creditors and certain debt buyers. The FDCPA protects debtors from unfair collection...more

Recent Bankruptcy Decision from the Western District of Wisconsin Discusses Negative Equity, Car Loans, and the Chapter 13 Cram...

by Ruder Ware on

A quick introduction for those of you who are not bankruptcy nerds. For certain types of collateral, Chapter 13 allows a Debtor to reduce a secured creditor’s claim down to the value of the collateral. This is called “cram...more

Supreme Court Reverses Eleventh Circuit: Debt Collectors Can File Proofs of Claim On Stale Debt Without Violating FDCPA

by Burr & Forman on

In a 5-3 decision written by Justice Stephen G. Breyer last week, the Supreme Court of the United States ruled that the Eleventh Circuit erred when it found that Midland Funding, one of the nation’s largest purchasers of...more

Bankruptcy Proof of Claim on Time-Barred Debt Does Not Violate FDCPA, SCOTUS Rules

by Ballard Spahr LLP on

Filing a proof of claim in a debtor's Chapter 13 bankruptcy case on a debt that is "obviously time barred" does not violate the Fair Debt Collection Practices Act (FDCPA), the U.S. Supreme Court has ruled in a 5-3 decision....more

Supreme Court Sides With Balch Lawyers and Finds for Midland Funding, Rejecting FDCPA Lawsuits Based on Bankruptcy Proofs of Claim...

by Balch & Bingham LLP on

This week, the United States Supreme Court issued a key decision under the Fair Debt Collection Practices Act in a case litigated by Balch & Bingham lawyers, Jason Tompkins and Chase Espy. In Midland Funding, LLC v. Johnson,...more

Out of Time, Not Out of Luck: Supreme Court holds POCs for Time-Barred Debt are OK under FDCPA

In a win for debt buyers and servicers, the Supreme Court held in Midland Funding, LLC. v. Johnson that the filing of a proof of claim in a bankruptcy case for obviously time-barred debt is not false, deceptive, misleading,...more

What did the Supreme Court Say? Creditor Claim for Stale Debt in Chapter 13 Case Does Not Violate the FDCPA

by McNair Law Firm, P.A. on

The United States Supreme Court recently held in Midland Funding, LLC v. Johnson, 581 U.S. ___ (2017) that filing a proof of claim that is obviously time-barred in a Chapter 13 debtor’s bankruptcy case is not a violation of...more

U.S. Supreme Court Rejects FDCPA Liability in Bankruptcy Proceeding

by Clark Hill PLC on

On Monday, May 15, 2017, the Supreme Court put to rest a theory of liability under the Fair Debt Collections Practices Act (FDCPA or Act) that had a major impact not only upon the credit and collection industry, but...more

U.S. Supreme Court Weighs in on Bankruptcy Claims, Fair Debt Collection Practices Act

The United States Supreme Court issued a ruling Monday resolving the question of whether filing a proof of claim for a debt that is time-barred by the statute of limitations is a violation of the Fair Debt Collection...more

A “Pro-Creditor” Supreme Court Decision That Does No Favor for Banks

by Murtha Cullina on

Earlier this week, the U.S. Supreme Court held that a creditor who deliberately files a bankruptcy proof of claim for a time-barred claim does not violate the Fair Debt Collection Practices Act (FDCPA). Midland Funding v....more

U.S. Supreme Court Limits Availability of Civil Remedies Against Debt Collectors

by Bryan Cave on

On May 15, 2017, a divided U.S. Supreme Court held in Midland Funding, LLC v. Johnson that a debt collector’s filing of a facially time-barred claim in Chapter 13 bankruptcy proceedings was not a violation of the Fair Debt...more

In Win for Debt Buyers, Supreme Court Holds Filing Proofs of Claim in Bankruptcy on Stale Debts Does Not Violate FDCPA

by Burr & Forman on

In Midland Funding, LLC v. Johnson, the U.S. Supreme Court held that a debt collector does not run afoul of the FDCPA by filing a proof of claim in bankruptcy on a stale debt. In its 5-3 decision, the Court sided with the...more

New Bankruptcy Rules to Take Effect December 1, 2017

After several years of drafting, debate, compromise and fine tuning, it appears that major changes to the administration of consumer bankruptcy cases are imminent. On April 27, 2017, Chief Justice John Roberts submitted to...more

The Legality of Post-Bankruptcy Condo or Homeowner Association Assessments

A recent bankruptcy case illustrates how bankruptcy affects condominium or homeowner’s association assessments. The Bankruptcy Court for the Southern District of Florida ruled that a condominium association was not in...more

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